In a surprising turn of events, New Jersey’s internet gambling revenue has soared to unprecedented levels, shattering previous records and highlighting the shift in consumer behavior towards online gaming during the ongoing COVID-19 pandemic. Despite this digital triumph, the state’s iconic Atlantic City casinos have continued to struggle amidst stringent health and safety measures, with in-person revenue falling short of pre-COVID numbers.
According to the latest industry data released by the New Jersey Division of Gaming Enforcement, internet gambling revenue reached a staggering $118.3 million in October, marking a significant 106% increase compared to the same period last year. This surge in online gaming revenue has been attributed to a surge in interest from consumers stuck at home due to the ongoing pandemic, as well as the convenience and accessibility of virtual gaming platforms.
“The rise of internet gambling in New Jersey has been nothing short of astounding,” exclaimed industry analyst, Mary Johnson. “With in-person entertainment options limited due to the pandemic, consumers have flocked to online gaming platforms in search of entertainment and excitement. This dramatic shift in consumer behavior has ushered in a new era for the gambling industry, prompting traditional brick-and-mortar casinos to adapt and innovate in order to remain competitive.”
While internet gambling continues to thrive, Atlantic City’s brick-and-mortar casinos have struggled to regain their footing in the wake of the pandemic. Despite efforts to implement strict health and safety protocols, in-person revenue has fallen short of pre-COVID numbers, with many casinos operating at reduced capacity and facing a decline in foot traffic.
“As much as we celebrate the success of internet gambling, we must also acknowledge the challenges faced by our beloved Atlantic City casinos,” said New Jersey Governor, Phil Murphy. “The pandemic has presented unprecedented challenges for the gaming industry, and it is essential that we continue to support our local casinos as they navigate these uncertain times.”
Industry experts predict that the continued success of internet gambling coupled with the gradual relaxation of COVID-19 restrictions could spell a brighter future for Atlantic City casinos. As consumers slowly return to in-person gaming and entertainment options, casinos are expected to experience a gradual increase in revenue and foot traffic.
Despite the current challenges faced by Atlantic City’s casinos, industry insiders remain optimistic about the industry’s long-term prospects. As the gaming landscape continues to evolve and adapt to changing consumer preferences, casinos are expected to innovate and diversify their offerings in order to remain competitive in an increasingly digital world. The future of Atlantic City’s iconic casinos may indeed be uncertain, but with a resilient spirit and a commitment to adapting to the times, the industry is poised to weather the storm and emerge stronger than ever.
